Summary: Shorting The Sandbox is pretty straightforward, all you need is a crypto trading platform that allows for short selling. While there are a few exchanges out there that have added the ability to short crypto, our recommendation is to use eToro. They’re well-known, have a global presence, and are trusted by millions of users from 100+ countries.
We’ll be using eToro in our guide, you can sign up with one of the sign-up buttons below.
Before we get started, let’s quickly explain what shorting is (for those that are new to it). Shorting is the practice of selling a cryptocurrency hoping it will drop in price so you can buy it back later for cheaper… which, if successful, will give you a net profit.
It might sound a bit complex but don’t worry, it’s a lot easier than you might think.
How to Short The Sandbox
Shorting The Sandbox can be done in 4 steps:
- Find a crypto broker
- Sign up with the exchange
- Fund your account with fiat or crypto
- Short The Sandbox
1. Find a cryptocurrency trading platform
As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.
You can, of course, use any other crypto exchange that allows for short selling.
2. Sign up with the crypto trading platform
Let’s start with creating an account on eToro.
The sign-up process is very easy and quick, as is the verification that needs to be completed afterwards so you can get started.
3. Funding your account
Next is funding your account. You have several deposit methods to choose from when depositing funds into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.
4. Short The Sandbox
These are the steps to follow to execute a short sell:
- Go to the search bar at the top, find The Sandbox by entering the name.
- On the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
- At the top of the trading interface: Click on sell to short the crypto.
- Enter the amount for which you want to sell The Sandbox and click on “Open Trade”.
Once you’re ready to close the trade, hopefully when the value of The Sandbox has dropped, go to your Portfolio, find the The Sandbox trade, and click on the red cross to close the trade.
If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.
Congratulations, now you know how to short The Sandbox!
Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
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Where to Short The Sandbox (SAND)
Aside from eToro, the other major exchange you can use is Binance.
While Binance tends to be a bit more advanced when compared with eToro, they do have a lot more digital assets to trade with.
Frequently Asked Questions
Can I short The Sandbox on Binance?
Yes, you can short The Sandbox on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.
About The Sandbox
Pixowl launched The Sandbox, a virtual world that uses blockchain technology to allow users to create, build and buy digital assets. The Sandbox brings together the power of decentralized autonomous groups (DAO) with non-fungible tokens (NFTs) to create a decentralized platform for a flourishing gaming community.
According to the Sandbox Platform's whitepaper the platform's primary mission is to integrate blockchain technology into mainstream gaming. The platform is focused on creating a "play-to earn" model that allows users the ability to both create and be gamers at once. Sandbox utilizes blockchain technology by introducing SAND utility token. This token facilitates transactions on the platform.
Because of its introduction to blockchain technology, the Sandbox platform is unique. Pixowl realized that the gaming sector is an untapped market in blockchain technology adoption. The Sandbox hopes to revolutionize this market by creating a place where gamers can create and accumulate blockchain-based assets. It has carved out a niche in gaming's global market.
The Sandbox is a platform that focuses on user-generated content. This creates a metaverse where all players are involved in the platform's continued development. Sandbox allows users to express their opinions on the project's progress and promotes decentralized government by introducing SAND token. With the development of blockchain technology, decentralized Governance is now a requirement for projects that use it.
The company began with a bang. It attracted investments and support from numerous prominent figures in the gaming industry. These include CryptoKitties, Helix and Atari.